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NBA Top Shot Maker Dapper Labs Raising $80M for Startup Acquisitions

Dapper Labs, the firm behind the Flow blockchain and NFT platform NBA Top Shot, is raising money to fund a series of acquisitions, the company told CoinDesk on Wednesday. Dapper Labs declined to disclose the acquired companies.

A regulatory filing from Dec. 9 showed that Dapper Labs had raised $6.5 million toward a $13.5 million goal in an equity offering. The company told CoinDesk in an email late Monday that the funds were used to purchase a “young, scrappy” company.

A new filing on Wednesday showed that Dapper had raised $23 million toward a $71 million goal in an offering that opened on Nov. 22.

“We did not raise funds. Instead, as our ecosystem and portfolio continues to grow, we’ve made, and will continue to make, a series of acquisitions that we are choosing not to disclose at this time,” Dapper Labs spokesperson Rachel Rogers told CoinDesk in an email.

Non-fungible tokens are a booming aspect of the U.S. sports scene and NBA Top Shot was an early bellwether.

In September, Dapper closed a $250 million funding round at a reported $7.6 billion valuation. The company then acquired influenced platform Brud for undisclosed terms in October.

Source: Coindesk